Dubai eyes further $10bn investment in airport

GROWTH PLAN: More than $17bn has been earmarked for the further expansion of airport facilities, including Dubai World Central - Al Maktoum International. (Getty Images)

Dubai Airports is planning to spend a further $10bn for expansion to keep up with growing international passenger volumes, chairman Sheikh Ahmed Bin Saeed Al Maktoum announced on Tuesday.

The company, which owns Dubai International Airport, recorded passenger traffic growth of 7.1 percent in May, he said at the Paris Air Show.

$10bn had been allocated for the construction of Dubai World Central, a new aviation hub surrounding Al Maktoum International Airport, which will be the world’s largest airport once built.

It had already invested $7.2bn expanding Dubai International, including construction of Terminal 3, the second concourse and Concourse 3, due for completion at the end of 2011, the company said.

Dubai International was forecasting a four to five percent increase in passenger traffic for the first half of the year, according to Al Maktoum.

A total of 39 million passengers were projected to travel through the airport in 2009.

“These are challenging times for aviation,” he said. “Passenger and cargo traffic has dropped off dramatically in most parts of the world leading to billions in industry losses.

“Dubai has been a beacon of light during these turbulent times.”

He said improved growth in passenger traffic for May following a 6.5 percent traffic rise in April was a sign the worst of the crisis was behind the company.

“It also sends a clear signal that our long-term strategy is on track,” he added.

For the first quarter, the airport recorded 2.1 percent passenger traffic growth.

Concourse 2 at Dubai International opened in October 2008, increasing the airport’s overall capacity to 60 million passengers per annum.

Once complete, Concourse 3 will boost total airport capacity to 75 million passengers per annum.

The first phase is due to open in June 2010 of Al Maktoum International, which will have capacity for 160 million passengers and 12 million tonnes of cargo per annum.

Over 100,000 travellers pass through Dubai International every day on more than 800 daily flights, the company said.

Dubai International was ranked sixth in terms of international passenger traffic for the first quarter of 2009, according to Airport Council International statistics.

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